Here's a thought to add to the discussion. What are the consequences to the person or persons who hired the disastrous CEO? What if the CEO's severance benefits

Here's a thought to add to the discussion. What are the consequences to the person or persons who hired the disastrous CEO? What if the CEO's severance benefits were paid out of the combined compensation of the people who gave that CEO those benefits? What skin do they have in the game? There is some idea that nobody getting paid $200,000/year could possibly be qualified to run a $billion company. There are plenty of people making less than that who think they are qualified. But they've never done it. To reach the top you have to work through multiple levels of management. Each of those levels comes with a pay bump. So you make $80K, then $120K, then $180K, then $300K before you can even be considered for the $800K job. This leads to the obvious miscalculation that anybody who has made $800K in the past is a qualified exec. Even assuming that a person was a competent manager at the $180K level or the $400K level, you still have to recognize how often the Peter Principle holds true.